Linscomb Wealth Inc. Buys New Shares in HP Inc. (NYSE:HPQ)

Linscomb Wealth Inc. bought a new position in HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 6,227 shares of the computer maker’s stock, valued at approximately $203,000.

Several other hedge funds have also added to or reduced their stakes in HPQ. QRG Capital Management Inc. lifted its stake in shares of HP by 1.4% in the 4th quarter. QRG Capital Management Inc. now owns 101,396 shares of the computer maker’s stock valued at $3,309,000 after acquiring an additional 1,368 shares during the last quarter. Versor Investments LP lifted its position in HP by 44.5% in the fourth quarter. Versor Investments LP now owns 47,100 shares of the computer maker’s stock valued at $1,537,000 after purchasing an additional 14,500 shares during the last quarter. First Command Advisory Services Inc. lifted its position in HP by 32.7% in the fourth quarter. First Command Advisory Services Inc. now owns 2,565 shares of the computer maker’s stock valued at $84,000 after purchasing an additional 632 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of HP in the fourth quarter worth approximately $6,901,000. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of HP by 1.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 29,501 shares of the computer maker’s stock worth $963,000 after purchasing an additional 539 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

HPQ has been the subject of several analyst reports. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein increased their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. HSBC downgraded HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, TD Cowen cut their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus price target of $36.59.

Insider Buying and Selling

In other news, insider Alex Cho sold 40,287 shares of HP stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock worth $9,316,641 in the last 90 days. Insiders own 0.41% of the company’s stock.

HP Trading Down 7.2 %

HPQ opened at $30.75 on Friday. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The stock has a fifty day simple moving average of $33.11 and a two-hundred day simple moving average of $34.84. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. On average, analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. HP’s dividend payout ratio is currently 40.93%.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.